“Grateful for what we’ve got achieved, having reworked Nestle right into a future-proofed, revolutionary and sustainable enterprise”, Mark Schneider stated.
| Picture Credit score: AFP
Nestle Chief Govt Mark Schneider is leaving the Swiss meals group after eight years in cost and will likely be changed by Latin America boss Laurent Freixe, the corporate stated Thursday (August 22, 2024).
Mr. Schneider “has determined to relinquish his roles as CEO and member of the Board of Administrators”, Nestle stated in an announcement, including that the transfer can be efficient from September 1, 2024.
“Main Nestle for the previous 8 years has been an honour for me. I’m grateful for what we’ve got achieved, having reworked Nestle right into a future-proofed, revolutionary and sustainable enterprise,” Mr. Schneider stated within the assertion.
“Mr. Freixe, who joined Nestle in France in 1986, “efficiently managed” the corporate’s European zone throughout the 2008 monetary disaster and till 2014,” the assertion stated.
He was then named CEO of the Americas area earlier than taking on on the newly created Latin America zone in 2022, “the place he has been efficiently main via difficult situations”.
Nestle stated Mr. Freixe has been nominated as a candidate for the board of administrators at its 2025 annual common assembly.
‘Excellent match’
Nestle, whose manufacturers vary from Nespresso espresso capsules to Purina pet food and Haagen-Dazs ice cream, lowered its gross sales progress outlook for 2024 final month because it slowed its value will increase within the first half of the 12 months.
The worldwide packaged-food big and its rivals had logged excessive gross sales progress prior to now three years as they raised costs to make up for increased prices as a result of hovering inflation.
The corporate has additionally confronted controversy lately, with Swiss NGO Public Eye accusing Nestle of selling baby food with high levels of added sugar in low-income countries however not in wealthier nations.
Nestle has countered that it had “no double standard” and applied the same nutrition and well being ideas in all places.
It has additionally scrambled to ease any considerations over its Perrier model after France’s meals security watchdog beneficial stricter monitoring of web sites the place Nestle extracts mineral water following the invention of traces of “faecal” contamination.
The corporate has since stated it has stepped up monitoring of the websites, and Schneider has stated the group’s water was secure to drink.
Mr. Freixe acknowledged that “there’ll at all times be challenges” however expressed confidence in Nestle’s capacity to “lead and win in all places we function”.
Nestle stated Thursday (August 22, 2024) that Mr. Schneider “has actively formed the corporate’s portfolio, in step with Nestle’s technique and with a deal with high-growth classes like espresso, pet care and dietary well being merchandise”.
Nestle chairman Paul Bulcke praised Mr. Freixe as “a gifted chief with strategic acumen, intensive in-market expertise and experience in addition to a deep understanding of markets and customers”.
“Laurent is the right match for Nestle at the moment,” Mr. Bulcke added.
